Maxim Group analyst Allen Klee reiterated a Buy rating on Pareteum Corp (TEUM) yesterday and set a price target of $9. The company’s shares closed yesterday at $2.74.
Klee noted:
“We believe a short report on TEUM issued on Friday drew inaccurate conclusions based on cherry picking some announced customers and highlighting prior challenges.”
According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -18.4% and a 27.6% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pareteum Corp with a $8 average price target, which is a 192.0% upside from current levels. In a report issued on June 10, Oppenheimer also reiterated a Buy rating on the stock.
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Based on Pareteum Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.78 million. In comparison, last year the company had a GAAP net loss of $2.13 million.
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Pareteum Corp. engages in the provision of mobile networking software and services. It offers mobile proprietary Software Defined Network Architecture platforms for the telecommunications industry utilizing messaging and security capabilities for the Mobile Virtual Network Operators, Internet-of-Things markets, Mobile, and Enterprise markets.
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